California city eyes carbon credit revenue from its trees

  • California city eyes carbon credit revenue from its trees

     Neil Norton updated 7 years, 7 months ago 1 Member · 1 Post
  • Neil Norton

    Member
    August 24, 2012 at 2:14 pm

    Aug 15 (Reuters Point Carbon) – California’s seventh-largest city may try to bolster its strained budget by maintaining its 393,000-tree urban forest and selling carbon credits to regulated greenhouse gas emitters in the state’s forthcoming cap-and-trade program.

    Long Beach Councilwoman Gerrie Schipske said Tuesday she will ask the city’s office of sustainability to review her proposal to enroll its urban forest as an offset project that can supply credits to California’s carbon market.

    Planting and maintaining forests in urban areas is one of four ways emitters can offset their greenhouse gas output, according to California’s cap-and-trade regulations.

    Schipske told Reuters Point Carbon that she will ask the sustainability office to take an inventory of the city’s trees and carbon emissions, and calculate how many carbon credits the project can generate.

    The councilwoman said she wants Long Beach to be an early player in California’s burgeoning carbon offset market, and to take advantage of the revenue it can earn — especially in light of tight economic conditions.

    Local newspaper The Press-Telegram said Long Beach has a projected $17.2 million budget deficit for the next fiscal year and has planned to slash a $227,703 from its tree-trimming budget.

    But Schipske said the city can use carbon credit revenue to cover the costs of tree maintenance without dipping into the budget.

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